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The Final Argument: The Best Recession in History

Joe296 Wrote: Feb 08, 2013 8:11 AM
The best explanation of the real cause of the mess we are in economically I have ever heard...'the democratization of credit and the socialization of risk" Easy credit made available to any and everyone with the government(taxpayers) covering everyones behind.
M1946W Wrote: Feb 08, 2013 8:53 AM
I think the privitization of profit and the socialization of risk is a better fit. Easy credit, sure, but that seems just a way of extracting money from the unwashed masses. Plus the government isn't covering everyone's behind, just the politically influencial, the crony capitalists.
Joe296 Wrote: Feb 08, 2013 9:14 AM
The government is covering everyones behind. From insuring deposits at banks to bankruptcy laws. The government has spent billions covering the butts of people who were extended mortgage loans they didn't qualify for.
Seawolf Wrote: Feb 08, 2013 8:48 AM
Right, this can be laid squarely on the dems especially franks and dodd..This is not rocket science after you cut theough the lies and assorted BS..Banks are in the money business, guarding it and making it..They have a fiduciary responsibility to their depositors, the dems shifted that onto US, the taxpayers, the outfits like ACORN and other assorted commie fronts pushed it for the "poor" who, by their past actions were not credit worthy and who should NEVER have been given loans PERIOD. Once off the hook, the banks went to their other activity, MAKING money and they are now the bad guys, LOL. The joke however is on US the suckers. Impeach them ALL.

Hey good news everybody.

People are still losing jobs at a faster rate than we’re creating them.

Thank God for the best recession in the history of mankind.

And thank God for Barack Obama being the best recessionary president in the history of mankind.

"This is the best looking contraction in GDP you'll ever see," says Paul Ashworth, chief U.S. economist at Capital Economics.

Yeah, just think about how great everything would look if Barack Obama wasn’t president, er… I mean: how bad everything would look.

“Initial claims for state unemployment benefits dropped by...